06.01.21
In response to global raw material and logistics pricing pressures, Sun Chemical will increase prices across a broad portfolio of its packaging and commercial sheetfed inks, coatings, and adhesives in North America, effective July 1, 2021.
The global raw material environment continues to demonstrate significant inflationary pressures. Raw material shortages are an ongoing concern, and the competition to secure these scarce resources has accelerated the cost increases within a majority of Sun Chemical’s raw material categories. In addition to raw material cost pressures, international and domestic logistics costs have soared as the economic recovery drives demand for these services.
“The dynamics within the ink market are unprecedented,” said Chris Parrilli, president of North American Inks, Sun Chemical. “The lingering effects of the Texas weather event and the international logistics challenges coupled with the ongoing impacts of the COVID pandemic are all significantly impacting our operations.
Sun Chemical’s primary objective is to keep our customers supplied with the products and services they need to meet their business objectives. In order to achieve that goal, we have taken all necessary steps to secure raw materials and transportation inclusive of absorbing higher costs,” Parrilli added. “We are committed to mitigating costs whenever possible. However, the speed of the inflationary pressures necessitates we implement price increases in the market.”
The global raw material environment continues to demonstrate significant inflationary pressures. Raw material shortages are an ongoing concern, and the competition to secure these scarce resources has accelerated the cost increases within a majority of Sun Chemical’s raw material categories. In addition to raw material cost pressures, international and domestic logistics costs have soared as the economic recovery drives demand for these services.
“The dynamics within the ink market are unprecedented,” said Chris Parrilli, president of North American Inks, Sun Chemical. “The lingering effects of the Texas weather event and the international logistics challenges coupled with the ongoing impacts of the COVID pandemic are all significantly impacting our operations.
Sun Chemical’s primary objective is to keep our customers supplied with the products and services they need to meet their business objectives. In order to achieve that goal, we have taken all necessary steps to secure raw materials and transportation inclusive of absorbing higher costs,” Parrilli added. “We are committed to mitigating costs whenever possible. However, the speed of the inflationary pressures necessitates we implement price increases in the market.”
